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HARDSHIP EXEMPTION APPLICATION ICO Area: Council, —, u'- Q Interim Control Ordinance File No.: / 'c.) Additional No.: r: C'). U'C. Interim Control c Ordinance No.: :' :;.; o -'-1 0 0 Lc-7 Effective
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u- q is a financial reporting form used to gather information about certain foreign entities and their activities that have certain kinds of transactions with US persons.
US persons who have made certain types of transactions or have ownership interest in foreign entities are required to file u- q.
u- q can be filled out electronically using the designated form available on the website of the Internal Revenue Service (IRS). Detailed instructions are provided on the form itself.
The purpose of u- q is to gather information about certain foreign entities and their activities in order to facilitate the enforcement of US tax laws and compliance with reporting requirements.
u- q requires the reporting of various details such as the foreign entities' income, assets, liabilities, and financial transactions with US persons. The specific information required is outlined in the instructions accompanying the form.
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